Cisco Systems Reports Q4 Beat, Provides Outlook, Shares Up 3%

Cisco Systems (NASDAQ: CSCO) reported its Q4 results, with EPS of $0.83 coming in better than the consensus estimate of $0.82. Shares were trading around 3% higher after-hours.

Revenue was $13.1 billion (flat year-over-year), beating the consensus estimate of $12.73 billion. Total annualized recurring revenue (ARR) was up 8% year-over-year to $22.9 billion

"We had a strong end to our fiscal year thanks to our Q4 performance. Our teams executed well in the midst of an incredibly dynamic environment, resulting in the highest full-year non-GAAP earnings per share in the history of the company," said Chuck Robbins, chair and CEO of Cisco.

The company expects Q1/23 EPS in the range of $0.82-$0.84, compared to the consensus estimate of $0.84. Revenue is expected to grow 2-4% year-over-year.

The company expects full 2023-year EPS in the range of $3.49-$3.56, compared to the consensus estimate of $3.53. Revenue is expected to grow 4-6% year-over-year.

By Davit Kirakosyan

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